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2024 February 7   16:35

DSIC signs orders for up to 14 VLCC newbuildings

DSIC, in collaboration with China Shipbuilding Trading Co. Ltd (CSTC), has clinched contracts for 16 vessels valued at approximately $1.8 billion. These include conventional and LNG dual-fuel Very Large Crude Carriers (VLCCs) ordered by European shipowners. 

The deal, announced by China Shipbuilding Industry Corporation (CSIC) on February 7, comprises 6+2 VLCCs running on conventional fuel and 4+2 LNG dual-fuel VLCCs. 

Delivery of the vessels is set to commence from the end of 2026, with the LNG-powered VLCCs equipped with ME-GI high-pressure dual-fuel engines, aiming to reduce carbon emissions by 20% compared to conventional fuel counterparts. These optimized mega tankers cater to the specific needs of the shipowners, with the conventional-fuel VLCCs meeting Stage III Energy Efficiency Design Index (EEDI) standards. 

Combined with previous orders, the total contract value reaches around $1.8 billion. 

While the identities of the European shipowners remain undisclosed, earlier reports suggested that notable figures such as Greek shipping magnate Evangelos Marinakis and Norwegian tycoon John Fredriksen were eyeing orders from DSIC for both conventional and LNG-powered VLCCs.

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